German grocery retailers Rewe Group and Coop eG today (3 February) announced a strengthening in their strategic partnership, first signed four years ago.
Under the fresh agreement, co-operative retailer Coop eG will get access to capital from Rewe to fund its expansion plans.
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The two groups entered a strategic partnership in 2007 to build synergies in logistics and purchasing.
Coop eG CEO Gerd Müller said: “If we see, for example in logistics, areas to expand our mutual benefits, we will raise these synergies together”.
“We have achieved a lot in common so far”, said Rewe CEO Alain Caparros. “I’m looking forward to strengthening our cooperation. In addition to the trust and constructive cooperation, a joint cooperative of values.”
The retailers confirmed that the Federal Cartel Office has given the plans its approval.
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